The Maldives’ State Electric Company Limited (STELCO) announced plans to implement a 50 megawatt floating solar panel project to power the country’s capital Male’ and provide renewable energy for 28 islands with rooftop installations, reports local media.
STELCO is seeking investors for this joint venture, which will involve floating solar panels since the 300 hectares of land needed for installations is not available in Male’, STELCO Chairman Ahmed Shareef told Haveeru.
This clean energy project also aims to install solar panels on house rooftops, whereby the energy generated will be deducted from electricity bills. Shareef estimated private household bills will be reduced by 30 to 40 percent.
Currently, 80 percent of STELCO’s revenue is used to purchase fuel for energy generation.